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Union of India - Section

Section 430 in The Companies Act, 1956

430. Contributories in case of death of member.-.

(1)If a contributory dies either before or after he has been placed on the list ofcontributories, his legal representatives shall be liable in a due course ofadministration, to contribute to the asset of the company in discharge of hisliability, and shall be contributories accordingly.
(2)If the legal representatives make default in paying any money ordered to bepaid by them, proceedings may be taken for administering the estate of thedeceased contributory and compelling payment thereout of the money due.
(3)For the purposes of this section, where the deceased contributory was amember of a Hindu joint family governed by the Mitakshara School of Hindu Law, his legal representatives shall be deemed to include the survivingcoparceners.